Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
*
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 01333) ANNOUNCEMENT OF INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2016 GROUP FINANCIAL HIGHLIGHTS Six months ended 30 June 2016 2015RMB'000 RMB'000
(unaudited) (unaudited)
Revenue
Gross profit
EBITDA (Note 1)
Profit attributable to equity shareholders
Adjusted profit attributable to equity shareholders (Note 2)
Earnings per share (RMB)
Adjusted earnings per share (RMB) (Note 3)
Interim dividend per share (RMB)
7,675,297 2,819,856 2,543,667 1,369,790 1,505,218 0.19 0.21 0.097,892,402
2,541,467
2,402,164
1,498,059
1,498,059
0.21
0.21
0.09
At At 30 June 31 December 2016 2015RMB'000 RMB'000
(unaudited) (audited)
Bank balances and cash (Note 4)
Net assets Total assets
19,911,588 27,087,947 79,913,80713,495,202
25,990,998
71,400,726
* For identification purposes only
Notes:
1. EBITDA = profit before taxation + finance costs + amortisation of prepaid lease payments + depreciation of property, plant and equipment
2.
Adjusted profit attributable to equity shareholders is profit attributable to equity shareholders net of
the effect of non-cash expenses arising from the recognition of share options which were granted on 6 January 2016 at fair value by the Group and the stamp duty incurred in connection with the internal reorganisation in relation to the Proposed Spin-off and listing of Liaoning Zhongwang, a wholly- owned subsidiary of the Company.
3.
Adjusted earnings per share is calculated based on the adjusted profit attributable to equity
shareholders for each of the six-month periods ended 30 June 2016 and 30 June 2015 and on the weighted average number of ordinary shares, convertible preference shares and share options for the respective period.
4.
Bank balances and cash = cash and cash equivalents + short-term deposits + pledged bank deposits
INTERIM RESULTSThe board (the "Board") of directors (the "Directors") of China Zhongwang Holdings Limited (the "Company") is pleased to announce the unaudited consolidated interim results of the Company and its subsidiaries (collectively, the "Group") for the six-month period ended 30 June 2016 (the "Period under Review"), together with the comparative figures for the six- month period ended 30 June 2015, as follows:
Consolidated Statement of Comprehensive Income For the six months ended 30 June 2016 (Expressed in Renminbi ("RMB")) | ||
Note | Six months ended 30 June 2016 2015 RMB'000 RMB'000 (unaudited) (unaudited) | |
Revenue | 4 | 7,675,297 7,892,402 |
Cost of sales | (4,855,441) (5,350,935) | |
Gross profit | 2,819,856 2,541,467 | |
Investment income | 139,627 148,786 | |
Other income | 5 | 117,577 143,678 |
Selling and distribution costs | (71,526) (64,315) | |
Administrative and other operating expenses | (876,686) (675,681) | |
Share of profits less losses of associates | 41,008 1,132 | |
Finance costs | 6(a) | (440,345) (281,344) |
Profit before taxation | 6 | 1,729,511 1,813,723 |
Income tax | 7 | (359,721) (315,664) |
Profit for the period attributable to equity
shareholders of the Company 1,369,790 1,498,059 Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Exchange differences arising on translation of financial statements of overseas
subsidiaries (19,370) (1,958)
Cash flow hedges: net movement
in the hedging reserve 414 (3,201)
Total comprehensive income for the period
attributable to equity shareholders of the Company 1,350,834 1,492,900
Earnings per share
Basic (RMB) 8 0.19 0.21
Diluted (RMB) 8 0.19 0.21
Consolidated Statement of Financial Position At 30 June 2016 (Expressed in RMB) | |||
Note | At 30 June 2016 RMB'000 (unaudited) | At 31 December 2015 RMB'000 (audited) | |
Non-current assets Property, plant and equipment | 36,313,853 | 31,172,208 | |
Prepaid lease payments | 10 | 5,883,112 | 5,909,731 |
Interest in associates Deposits for acquisition of property, plant and equipment and prepaid lease | 11 | 2,823,338 4,373,972 | 2,707,564 6,343,590 |
Pledged bank deposits | 15 | - | 480,307 |
Deferred tax assets | 87,638 | 77,322 | |
49,481,913 | 46,690,722 | ||
Current assets Inventories | 12 | 3,358,623 | 3,326,401 |
Trade and bills receivables | 13 | 1,670,927 | 1,433,664 |
Other receivables, deposits and prepayments | 14 | 4,385,099 | 5,455,037 |
Available-for-sale financial assets | 16 | 976,417 | 1,351,418 |
Prepaid lease payments | 10 | 129,240 | 128,589 |
Pledged bank deposits | 15 | 2,503,646 | 2,788,873 |
Short-term deposits | 17 | 32,387 | 25,919 |
Cash and cash equivalents | 17 | 17,375,555 | 10,200,103 |
30,431,894 | 24,710,004 | ||
Current liabilities Trade payables | 18 | 737,770 | 2,405,803 |
Bills payable | 19 | 6,741,309 | 2,475,856 |
Other payables and accrued charges | 3,107,344 | 2,908,927 | |
Current tax liabilities | 249,697 | 183,344 | |
Debentures | 600,000 | 2,500,000 | |
Bank and other loans | 11,628,879 | 12,432,298 | |
Derivative financial instruments | 797 | 15,403 | |
Dividends payable | 9(ii) | 355,197 | - |
23,420,993 | 22,921,631 | ||
Net current assets | 7,010,901 | 1,788,373 | |
Total assets less current liabilities | 56,492,814 | 48,479,095 |
China Zhongwang Holdings Ltd. published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 August 2016 04:19:01 UTC.
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